Shift (SHIFT) Price

What is SHIFT?

Shift is a blockchain platform that is open-source in nature. The platform has created a built-in “dApp” also known as decentralised app. The first dApp from Shift is called Phantom and it plays a central role in Shift‘s architecture. It is a layered application providing a technology stack built for decentralization. It consists of a freely available technology called the InterPlanetary File System (IPFS which is a popular peer-to-peer hypermedia distribution protocol that servers as the backbone for many decentralized storage applications.

Features of SHIFT

In a bid to encourage mass adoption, Shift’s blockchain technology is written in Javascript as it is one of the most popular languages that coders are familiar with. The currency for the platform is called SHIFT and the utility tokens are used to to pay for hosting services and other services on its dApp platform. Shift uses delegated Proof-of-Stake (dPOS) as the consensus algorithm for its blockchain platform. In comparison to Proof-of-Work, dPOS is more efficient in terms of power usage. This is mainly because the calculations are much easier to compute as compared to the Bitcoin hash rate.

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Where to buy SHIFT?

The total supply of SHIFT coins is capped at around 11 million. The tokens are listed on exchanges like Bittrex, Livecoin, and Upbit.

SHIFT Mining

SHIFT tokens cannot be mined as it uses Proof-of-Stake algorithm.

Shift Wallets

SHIFT tokens can be stored in the platform’s own web and nano wallet.

Price Trends

On 24 May, 2018, the market capitalisation of SHIFT tokens was $23,251,955 while the price of 1 coin was $1.93. At the beginning on January, 2018, the price on 1 SHIFT token was around $10. However, in the following months the price kept falling till it reached around $1 in May.

Risks involved with investing in Shift

Cryptocurrencies are volatile in nature and hence, it is easy to predict the rise and fall in the prices. They are also subject to government regulations. Hence, it is advised to invest in mutual funds instead as they are more secure and reliable mode of investment.

Disclaimer:

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